Here we hope to answer the most frequently asked questions, asked to us by new investors wishing to work with us. If you have any other questions, not covered here then please don’t hesitate to contact us and one of our team will be happy to discuss this further with you.
Do you only assist cash buyers?
No, we do work with predominantly cash buyers but we also work with buyers who are using finance. If you’re a cash buyer, we need to see proof of funds to show you have access to the funds for the full purchase price. If you are purchasing using a mortgage, we need to see proof of funds for the deposit and proof you have a Decision in Principle (DIP) from a lender.
Do I need to sign an agreement?
Yes, we have a sourcing agreement which all our clients need to sign after we have undertaken our checks and satisfied that we will work well together. No deal details are released, until we have a signed agreement back. This protects both ourselves, and you as our valued client. The agreement fully details all the terms and conditions of our sourcing services.
What are your fees?
Our fee structure, is very transparent. When you pay your fees to us, they’re our fees for services rendered and at no point are they towards a deposit for the property. Upon an offer being accepted, 25% (capped at £25,000) of our overall fee (usually 2% of the purchase price, or £3,000 whichever is higher) is payable to secure the property. Without this, the property is not secured and may be sold to other parties as deals are sold on a first come, first served basis. Once the 25% is paid, solicitors will be instructed. The final 75% of the fee is due upon exchange.
Is the initial 25% refundable?
Due to the nature of the business, this is non refundable once solicitors are involved. Should you not be able to complete on the property due to the vendor, then the final 75% will not become due. If the sale falls through because of the buyer, then regardless of whether the property completes or not the final 75% becomes due. Full information can be found in our Sourcing Agreement.
Do you have access to a power team?
We can make introductions, although you are still expected to do your own due diligence on the third party to ensure they’re the right company to assist you. We make no introduction fees from any third parties, as this goes against our transparent company ethics.
Can you assist after the sale has completed?
Depending on what is required we’re happy to help, depending on graphical location we may be able to assist in project managing refurbishment works (additional costs applicable). Anything we’re able to assist with, we will be happy to help so that your investment property you purchased through us is successful.
I have buyers, can I send this deal to them? Will you split fees?
This is something we get asked multiple times a day, the answer always remains the same. We’re happy to split fees if you bring a buyer to the table who purchases through ourselves, although transparency is vital. This is why we keep control of the deals we’re working on, and don’t let them get sent to every man and his dog making the deal worthless by someone wanting to make a quick payday. So if you have verified buyers, lets speak. If you just want to send out our deals on your mailing lists, then the answer we’re afraid will always be no.
Are you direct to vendor?
The answer is yes, on 95% of all our deals we’re direct to vendor and control the off market deal. On a small percentage of deals, we work with selected trusted parties. When this is the case, we still have control of the deal and make sure that our colleague works closely with us in a manner we expect them to do so.
Why are you called the Three Amigos?
This we get asked daily, unfortunately there is no exciting story behind our name. This is what our owner refers to his dogs as, Fenn who is a Greyhound, Lennox who is a Chihuahua and Lincoln who is a Dachshund who thinks he is a Doberman.